Garcia noted that America Movil is on track to meet its capital investment forecasts for 2024, which will be $7.1 billion
Mexican carrier América Móvil will invest in 5G technology in all the markets in which it operates, the company’s CFO, Carlos García Moreno, said during a conference call with investors.
“We are going to invest in 5G in all the markets in which we work,” García said, adding that Peru will be a focus of attention for the operator this year, after it launched a new data center there in January.
America Movil operates in at least 10 markets, mainly in Latin America. In Europe, the telco partially owns Austrian operator Telekom Austria.
Garcia also said that America Movil is on track to meet its capital investment forecasts for 2024, which will be $7.1 billion, down from $8.6 billion last year. Earlier this year, America Movil had warned of a cut in its spending after several years of significant investment in spectrum and network modernization.
América Móvil added a total of 562,000 broadband accesses in the first quarter of the year, with Mexico accounting for 325,000 new clients, up 6.4% compared to the year-ago period.
“All the big investments in fiber that we have been doing for the last three years are working,” America Movil’s CEO Daniel Hajj told analysts during the call.
In Mexico, América Móvil has over 17 million fiber homes passed and 80% of fixed customers connected to fiber, registering 21.6 million revenue generating units in March.
Brazil accounted for 92,000 new subscribers during Q1, up 2.7% year-on-year, and Colombia for 23,000, an increase of 2.1%.
The number of broadband subscribers in Argentina, Paraguay and Uruguay combined rose 23.2% to 1.4 million, with 62,000 new ones in the first quarter of the year.
“What we are doing in Mexico is exactly what we’re doing in other markets. We are investing in 5G, we are improving and giving better plans, doing fiber,” Hajj added.
América Móvil added a total of 1.5 million mobile subscribers during the quarter, of which 1.3 million of which were postpaid customers.
“Our 5G network is working very good. We have over 125 cities [in México] with good quality. We’re not increasing prices and people are choosing higher plans with more data,” Hajj said.
America Movil’s Mexican unit Telcel has over 10 million users that are able to connect to 5G technology.
Telcel initially launched its commercial 5G network in February 2022 in 18 of Mexico’s largest cities, using infrastructure from Ericsson and Huawei.
Rival operators AT&T Mexico and Movistar also offer 5G technology in Mexico.
